Predicting the future
To submit a good estimate to the governor’s office, the agencies must predict the number of people who will apply for unemployment insurance and how many prisoners would be released from prison, as well as how many new prisoners will be arriving in a year and a half’s time.
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The state is able to balance the budget by foreseeing the amount of revenue to be captured as well as forecasting the employment and inflation rates, performance of the stock market as well as stock tax collected by retail stores among others.
The state has a set of economic experts who project the coming economic climate, how much the state can expect to collect in taxes, how much it will pay for necessary purchases if it looks like a good year economically, then there will be more to spend.
The government’s services are neither easy nor quantifiable in strict economic conditions. Just like in a normal family setup, money spent on holidays and vacations cannot pay rent.
In the same context, comparisons among different programs such as how many highways are worth in comparison to building schools have to be done.
“Fair share” and “base.”
“Base” refers to the process of decision making, for example, that led to the creation of a program in the first place took into account the major arguments for and against. No matter the flaws of this kind of approach, anyone who has tried to put up a budget comprehends that there has to be a baseline.
Preparing the Budget
This begins when all agencies have begun to compile their annual estimates for the following year. This is then reviewed by the budget analysts who look for inaccuracies, major changes, and consistency with the governor’s programs. Budget examiners then review the budget and forward their recommendations in closed-door sessions with the unit heads. New York’s constitution gives the governor thirty days to revise the original budget.
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The negotiations deals made by the speaker and majority leader with the Governor must pass collectively in their party conferences and ultimately in the legislature. Trust, in this case, is an important value in defining the relationships between party leaders and the Governor. The budget is put together in eight separate bills.